TheStreet

Cullen/Frost CEO: Booming Texas Economy Boosting Local Banks

The booming Texas economy is enabling Cullen/Frost Bankers to increase loan growth and raise its dividend, says the company's CEO Dick Evans. Evans says the state's business friendly environment is allowing it to grow jobs and not only in the energy sector. He says the bank is benefiting from the natural gas boom, especially in the Permian basin where it recently acquired WNB Bancshares, but Cullen/Frost is not overly levered to the industry. Finally, he says Cullen/Frost plans to grow its branch base along with its mobile applications.